HUNG THINH CORPORATION AND THE INVESTMENT OF TAN PHU - BAO LIC EXPRESSWAY PROJECT

About 3 months after Hung Thinh Corporation and Deo Ca Group signed strategic cooperation to develop in the construction and infrastructure sector. The pre-feasibility study report on Tan Phu - Bao Loc expressway investment project of this consortium was selected by the Party Committee of Lam Dong Province.


The Standing Party Committee of Lam Dong province had a meeting to listen to the consortium of investors including Deo Ca Group, Hung Thinh Corporation and Nam Mien Trung Group Joint Stock Company reporting the pre-feasibility study of Tan Phu - Bao Loc expressway construction investment project under the public-private partnership (PPP) form.


Based on the local development plan, Party Committee of Lam Dong Province agreed to choose the alignment 1 option of Tan Phu - Bao Loc expressway construction investment project under the report and proposal of the consortium of investors to take the following steps as regulated.
 

At the same time, Party Committee of Lam Dong Province also assigned the consortium of investors to continue surveying, researching and proposing investment in Bao Loc - Lien Khuong expressway project.
    

Dau Giay - Lien Khuong - Da Lat expressway has total length of 208km with the scale of 4 lanes, is in the development planning of Vietnam expressway network by 2020, with a vision to 2030. Currently, the section with the length of about 19km from Prenn pass to Da Lat city has been completed.
 
 
In 2014, the Ministry of Transport calculated that if the entire Dau Giay - Lien Khuong expressway was invested under the expressway standards with 4 lanes, 25m cross section and total length of nearly 200km, its cost estimates was VND 65,000 billion.


Therefore, the Ministry of Transport assigned the agency to prepare pre-feasibility study report on component projects in the following sections: Dau Giay - Tan Phu, Tan Phu - Bao Loc, Bao Loc - Lien Khuong, recommended the use of the State’s supportive capital in the medium-term public investment plan for 2021-2025 period.
 

By January 2021, the People's Committees of Lam Dong and Dong Nai provinces sent a written report to the Prime Minister on recommending investment plan for 67km long Tan Phu - Bao Loc section under the public-private partnership (PPP) form, with total investment of about VND 18,200 billion. The People's Committees of two provinces above proposed to assign the People's Committee of Lam Dong province to be the competent State agency to organize the project implementation.
 

On February 4, the Government Office issued Notice No. 24/ TB - VPCP on notifying the conclusion of Prime Minister Nguyen Xuan Phuc at the meeting on the implementation of Tan Phu - Bao Loc expressway project.
 

Accordingly, the Prime Minister agreed in principle to assign the People's Committee of Lam Dong province to be the competent agency to organize the implementation of Tan Phu (Dong Nai) - Bao Loc (Lam Dong) expressway investment project for 2021-2025 period under the PPP form, with the State's capital contribution support.
 

As for the consortium of investors, including 3 groups: Deo Ca, Hung Thinh, Nam Mien Trung. If Nam Mien Trung is a closed group, Deo Ca and Hung Thinh are quite prominent for recent times.
 

Most recently, on February 22, the Board of Directors of Hung Thinh Incons Joint Stock Company (a member company of Hung Thinh Corporation) passed the resolution to elect Mr. Ho Minh Hoang as an independent member of the Board of Directors to hold the position of Vice Chairman of the Board of Directors.
 
 
Board of Directors of Hung Thinh Incons consists of 6 members, Mr. Nguyen Dinh Trung holds the position of Chairman of the Board of Directors, Mr. Ho Minh Hoang and Mr. Truong Van Viet hold the position of Vice Chairman of the Board, Thus, Mr. Ho Minh Hoang is the Chairman of the Board of Directors of Deo Ca Group and concurrently holds the position of Vice Chairman of the Board of Directors of Hung Thinh Incons.

Previously, on December 31, 2020, Hung Thinh Corporation and Deo Ca Group signed strategic cooperation to develop in the field of construction and infrastructure.
 
In the same day, Deo Ca Group and Hung Thinh Incons, general construction contractor of Hung Thinh Corporation signed a cooperation agreement on expanding the market from civil and industrial construction to infrastructure, transport, basic building materials and new material technology.
 
Two enterprises will cooperate in technology transfer, experience in construction and construction management, and develop technology in the fields of construction and infrastructure.
 

Specifically, two Parties will apply joint venture, association in bidding, investment and construction of infrastructure projects and construction projects, and expand the research on projects of artificial building materials in the future.